Formal & Mobile Money Borrowing Statistics in Saudi Arabia (2026)
30.5% of adults in Saudi Arabia borrowed from a formal financial institution or using a mobile money account in 2024, World Bank Global Findex data show. Down from 32.4% in 2021 to 30.5% in 2024 (−1.8 percentage points). Saudi Arabia ranks #3 of 18 economies in Middle East, North Africa, Afghanistan & Pakistan on this measure, and #41 of 142 globally.
Key Statistics
- Latest value (2024)
- 30.5% (2024)
- Formal & Mobile Money Borrowing in Saudi Arabia as of 2024, the most recent observation in World Bank Global Findex data.
- Change since 2021
- −1.8 pp (2024)
- Down from 32.4% in 2021 to 30.5% in 2024 (−1.8 percentage points).
- Earliest value in this dataset (2014)
- 17.4% (2014)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Up from 17.4% in 2014 to 30.5% in 2024.
- Peak value (2021)
- 32.4% (2021)
- Highest value in the available series; the 2024 value is 30.5%.
- Rank in Middle East, North Africa, Afghanistan & Pakistan
- #3 of 18 (2024)
- Saudi Arabia ranks 3 of 18 countries in Middle East, North Africa, Afghanistan & Pakistan with data, based on each country's latest value.
- Global rank
- #41 of 142 (2024)
- Saudi Arabia ranks 41 of 142 countries with data globally.
- Middle East, North Africa, Afghanistan & Pakistan average
- 16.1% (2024)
- Saudi Arabia (30.5%) is above the average of 16.1% across the 18 countries in Middle East, North Africa, Afghanistan & Pakistan with data.
- Borrowed from a formal bank or similar financial institution (% age 15+) (2024)
- 30.1% (2024)
- Related indicator from World Bank Global Findex.
- Internet use in Saudi Arabia (2024)
- 100% (2024)
- 100% of the population in Saudi Arabia used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 35.3 million (2024)
- Saudi Arabia had a population of 35.3 million in 2024 (World Bank); shown for scale only.
Trend, 2014–2024
| Year | % of adults (age 15+) | Change |
|---|---|---|
| 2024 | 30.5% | −1.8 pp |
| 2021 | 32.4% | +11.3 pp |
| 2017 | 21.1% | +3.7 pp |
| 2014 | 17.4% | — |
Frequently asked questions
What share of adults in Saudi Arabia borrowed from a formal financial institution or using a mobile money account?
30.5% of adults in Saudi Arabia borrowed from a formal financial institution or using a mobile money account in 2024, according to World Bank Global Findex data.
How recent is the formal & mobile money borrowing data for Saudi Arabia?
The most recent observation is from 2024. World Bank Global Findex data is reported with a lag, so 2024 is the latest available year for Saudi Arabia.
Where does the formal & mobile money borrowing data for Saudi Arabia come from?
The data comes from the World Bank Global Findex (indicator fin22a.22a1.22g.d). The latest observation for Saudi Arabia is from 2024; the snapshot was retrieved on 2026-06-10.
How has formal & mobile money borrowing in Saudi Arabia changed over time?
World Bank Global Findex data show a rise from 17.4% in 2014 to 30.5% in 2024.
How does Saudi Arabia compare with other countries in Middle East, North Africa, Afghanistan & Pakistan?
Saudi Arabia ranks 3 of 18 countries in Middle East, North Africa, Afghanistan & Pakistan with data, with 30.5% versus a regional average of 16.1% (latest values per country).
Source & methodology
Source: World Bank Global Findex, indicator
fin22a.22a1.22g.d, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .